NTV Airs Season Finale of Shark Tank Tonight

NTV Kenya, the exclusive Kenyan TV Channel airing Shark Tank, is set to air the Season finale of the show tonight.

Shark Tank is an American reality television series which premiered on ABC on August 9, 2009. It features business pitches from aspiring entrepreneurs to a panel of potential investors. As of 2012, the show was averaging 7 million viewers an episode, and was the most watched program on Friday nights in the 18-49-year old demographic.(source)

Ruto's Jet Was Hired Through an Executive Order

In an exclusive revelation by the Daily Nation Team, It is confirmed that the Jet Used by the Deputy President, William Ruto was hired out of an executive order Issued by President Uhuru Kenyatta.

This revelation came out of the Office of Auditor General after being given a go a head by the Ababu Namwamba led committe to establish the costs involved in the Ruto trip.

At ;east, the Deputy President can feel relieved after an orchestrated negative media campaign that He had over spent public funds on the said trips. 

Kenyan Insurance Comapanies Rush to Court to Stop The Tax Man from imposing a 10% Exercise Duty on their services

The Kenyan Insurance Companies have moved to the courts to block Kenya Revenue Authority from levying a 10% exercise duty on their services.

The 10% exercise duty was brought in under the Finance Bill 2013 where the Government placed Insurance firms under the bracket of Financial Institutions, whose services are to be levied a 10% exercise duty in order to helpp the Tax man raise more revenue.

The Association of Kenya Insurers (AKI), on Tuesday obtained a temporary injunction blocking the Commissioner of Domestic Taxes and KRA from collecting the exercise duty tax. 

“Therefore for the time being neither the Commissioner nor KRA can collect payment from insurers until the matter in court is heard and determined,” Read part of a circular signed by AKI’s executive Director Tom Gichuhi and directed to all affected industry players.

When Kenyan Journalists Decide To Go Rogue

The Contentious Building

Interesting Drama unfolded at the Kenyan Parliament Building when over thirty journalists drawn from varied media houses declined to cover a press conference called by the Jubilee Leader of Majority; Aden Duale, at the National Assembly Media Center.

This, they did in retaliation to their ejection from the Media Centre by the National Assembly Administration, two months a go. 

If this stalemate continues, then  things might not get rosy for the ruling coalition side inside the parliament since the media might give them 'black out' as they drive their agenda for the country.

A Must Read: The breathtaking story of Kenya’s eleven super-rich

They are just 11 but very, very rich. Their wealth at the Nairobi Securities Exchange (NSE) increased by Sh27 billion in slightly less than 12 months. Mark you, that is only wealth in shares listed in their names at the NSE. They have much more in shares not listed in their names, but under nominee accounts or through sister companies to ones listed at the stock market.

Yet, another huge chunk of their wealth is in firms they own but are not quoted at the NSE. It is also worth noting that there is an equal or slightly bigger number of Kenyans who are as wealthy, if not more endowed, than the 11, but whose wealth is largely unknown to the public as their companies or businesses are not listed at the NSE. Top in the rich list of those whose wealth is measurable, at least through the NSE, is his Highness The Aga Khan who alone scooped Sh17 billion of the Sh27 billion.

Next is the family of the late Philip Ndegwa, at Sh3 billion, a former entrepreneur per excellence whose estate stands solid in real estate, banking and other investment. Then follows Dr James Mwangi of Equity Bank and Chris Kirubi who made Sh2 billion and Sh1.41 billion, respectively. The family of retired President Daniel arap Moi and businessman-cum-politician Jimnah Mbaru, just shied off the billion mark, to have their listed wealth at the NSE increase by Sh800 million apiece.

Close in tow are businessmen Peter Munga, Naushad Merali, Ashok Shah and insurance executive, Benson Wairegi, whose wealth increased by Sh620 million, Sh400 million, Sh400 million and Sh380 million, respectively. The Somen family, with their vast interests in provision of Internet services and banker Gideon Muriuki closed the super rich list with gains of Sh300 million and Sh216 million, respectively. The Aga Khan, who is the spiritual leader of the Ismailia community, made his wealth through his investments in the media, banking, insurance and hospitality.

He is the single largest investor at the NSE with majority shareholding in the media giant, Nation Media Group (NMG), TPS East Africa which runs the Serena chain of hotels, Jubilee Insurance and the Diamond Trust Bank. The NMG, by far the largest listed of the Aga Khan’s commercial interests in East Africa, had a market value of Sh48.5 billion by close of business at the NSE on Wednesday. Aga Khan’s stake at the company is 44.66 percent where his shares are held under the Aga Khan Fund for Economic Development

The Aga Khan

Over the 12 month period, his wealth in the company grew by Sh10.1 billion from Sh11.64 billion to Sh21.75 billion as the company’s share moved from Sh166 to Sh312. In Tourism Promotion Services (TPS) East Africa, a holding company that has in its stable 21 hospitality establishments (13hotels and eight lodges) marketed through Serena Hotel and Lodges brand name, his wealth grew by Sh657 million from Sh3.1billion to Sh3.7billion. 

His shares in TPS East Africa are held through Aga Khan Economic Fund for Development, Industrial Promotion Services, Aga Khan University Investments, Property Development and Management (PDM) Holding, and Craysell Investment. In Diamond Trust Bank, his shares are held under Aga Khan Fund for Economic Development, Habib Bank, Craysell Investment and PDM Holding. In the past 12 months, his wealth in the bank grew by Sh4.9 billion from 6.7billion to 11.68 billion. In Jubilee Insurance, where his shares are held under Aga Khan Fund for Economic Development, his wealth grew by Sh1.9 billion from Sh4.09 billion to Sh6 billion.

Ndegwa family

Though heavy investors in a wide range of sectors: from farming, shipping, real estate and insurance, the family of the late Philip Ndegwa are in the securities market only through the National Industrial Credit (NIC) bank. The family’s shares in the NIC are held through First Chartered Securities Ltd and ICEA Assets Management Ltd whose directors are the late Ndegwa sons, James and Andrew. In the past one year, the Ndegwas wealth grew by Sh2.84 billion from Sh4.6 billion to Sh7.46 billion.

Dr James Mwangi

With a 3.45 per cent shareholding, Dr Mwangi is the biggest individual investor in Equity Bank. In the period under consideration, his wealth in the bank grew by Sh1.81 billion from Sh2.64billion to Sh4.46billion. The Equity Bank boss is also one of the biggest shareholders in life insurance firm, Britam, where his wealth grew by Sh187.5 million from Sh438.7million to 626.2million.

Chris Kirubi

The industrialist and media owner’s investment in the NSE is through the Centum group. He was also the third largest shareholder in the Kenya Power company but has since sold his shares to Mama Ngina Kenyatta. In Centum, Kirubi’s investment grew by Sh1.41 billion while his worth in Kenya Power grew by Sh39 million to Sh269.9 million from Sh230.9 million.

Moi family

Former President Moi’s most visible investments at the NSE are in Standard Chartered Bank and the Standard Media Group. In Standard Chartered where his shareholding is held under Kabarak Ltd, his wealth grew by Sh387.7million from Sh568.8million to Sh956.5million. In the Standard Media Group where his shares are held under SNG (Standard Newspaper Group) holdings, his investments increased by Sh409million from Sh1.297billion to Sh1.7billion.

Jimnah Mbaru

Mbaru’s flagship business is the securities brokerage firm, Dyer and Blair. He is also a major shareholder in Britam and Transcentury Group where his wealth grew by Sh690.5 million. In Britam, his investments grew by Sh548.2 million from Sh1.28 billion to Sh1.83 billion, while in Transcentury his wealth increased by Sh145.2million from Sh581million to Sh726 million.

Peter Munga

The Equity Bank founder chairs the bank’s board where he is listed among the top 10 largest stock owners with a 0.61 per cent shareholding. In Equity, his wealth grew by Sh319.4million from Sh465million to Sh784 million while he increased his worth in Britam by Sh187.5million from Sh438.7million to Sh626million.

Benson Wairegi

The chief executive of Britam, Wairegi, joined the firm fresh from university rising up to his current position. He is one of the biggest shareholders in both Britam and Equity Bank where his wealth increased by Sh380million. In Britam, his investments increased by Sh250.7million from Sh586.7million to Sh837.4million while his Equity Bank stake increased by Sh129.3million to Sh317.6million from Sh186.3million.

Naushad Merali

He is the Kenyan version of US investment guru Warren Buffet with a knack for striking business deals while they are hot. Merali’s investments at the NSE are spread across agricultural, automobile and manufacturing sectors. His controlling interests are in Sasini Tea and Coffee, tyre manufacturer Sameer Africa and battery manufacturer Eveready East Africa. Through the three companies, Merali’s fortune grew by Sh431.7million. In Sasini, his investments which are held through Legend Investment, Yana Towers and East Africa Batteries grew by Sh246million from Sh1.477billion to Sh1.723billion while in Sameer Africa his wealth grew Sh119.4million to Sh844.4million from Sh724.9million. In Eveready East Africa where his shares are held under East Africa batteries, his investments grew by Sh66million.

Somen Family

The Somen family came to the limelight when it listed Access Kenya, a communication company that sells corporate bandwidth, small offices and up market homes across the country. The company has been in the news lately following a bid by South Africa firm, Dimension Data PLC, to buy all the 218 million shares in the company. Somen family’s shares in Access Kenya are held separately by three members of the family, the patriarch Michael Somen, and his two sons Jonathan and David. Jonathan, the company’s managing director, is the majority shareholder followed by David and his father in that order. 

Their wealth increased by Sh323.6million in the last 12 months. Jonathan’s worth in the company increased by Sh181.3million from Sh172million to Sh353.3million while David’s grew by Sh78million from Sh74million to Sh152million.Michael’s worth grew by Sh64.3million from Sh61million to Sh125.3million.

Gideon Muriuki

The Cooperative Bank managing director is the second biggest shareholder in the bank and the biggest individual shareholder. He gained Sh216million from his seven percent shareholding pushing his investments’ worth from Sh1.095billion to Sh1.31billion. Muriuki is also the biggest shareholder in CIC Insurance.

Ashok Shah

The founder of APA Insurance firm is one of the major players in both general and life insurance. His investments in NSE are spread across automotive, commercial, banking and insurance. His name features among the top shareholders in CMC Motor Group, Barclays Bank, Kenya Airways, and Pan Africa Life Insurance where his investments grew by Sh26.1 million. In Barclays Bank, his wealth grew by Sh2.4million from Sh6.1million to Sh8.6million, while in Pan Africa Life his portfolio gained by Sh39.6million.......Source: The People.

Kenyans Embrace Themselves For Higher Taxes In Order To Meet Government Expenditure

NAIROBI, KENYA: The Parliamentary Budget and Appropriations Committee has expressed concerns that the Government might not be able to finance a deficit of Sh163 billion in the 2013-2014 Budget.

Committee chairman Mutava Musyimi and vice chair Mary Emaase warned that there is a very high likelihood that the Government might not be able to finance the entire Sh1.6 trillion Budget.The two said the committee will look at all possible alternatives of how funds can be raised and then advise the Government accordingly.

“We have very little for county and national government. The question is, who will bear the burden of the deficit. Will it be the County or national government, or will they share the burden,” wondered Emaase.

She warned that borrowing from the domestic market can be a very expensive affair for Treasury.

Musyimi said the deficit has not been occasioned by the huge wage bill alone. “We need to stop corruption. 

 

Seal tax evasion loop holes and probably raise taxes to finance the deficit. It is not just the wage bill alone,” he explained.

The two spoke at a press briefing in Parliament Buildings after chairing their second meeting since the committee was constituted. They said members raised concern that the national debt is too high and that the Government is competing with the private sector for local funds.

“The debt is going up but we are yet to get the details of the figures. The wage bill is too high. We know that when the salaries and too high, the development expenditure is usually too small,” said Musyimi.

He said the Government must strengthen its capacity to collect taxes and seal all tax evasion loopholes.

He noted that beginning Thursday next week, the committee will visit 10 areas across the country to collect views from the public on the 2013-2014 Budget... Courtesy of SDN 

Samsung Galaxy S4 Hits Kenyan Shops

Use of smartphones in Kenya has grown in the last few months, giving Samsung a 43 percent lead in the market.

 

Speaking during the launch of Samsung Galaxy S4 at a Nairobi hotel, Samsung Electronics East Africa Chief Operating Officer, Robert Ngeru said the high demand in smartphones had grown because people were looking for more in connectivity and data.

The number of Internet users in Kenya stood at 16.2 million by December 31 last year, an 11.6 percent growth from the 14.5 million users recorded at the end of September 2012.

The Samsung Galaxy S4 launch in Nairobi comes as part of an on-going global launch of the smartphone in key markets and just a week from the launch of the handset in South Africa.

“The Samsung Galaxy S4 is slimmer yet stronger, with less to hold yet more to see. It has come up with simply unreal beauty. In the East African market, this smart phone will be available in black mist and white frost colour shades,” Ngeru said.

He further added that the phone has a highly crafted design encompassing a larger screen size and battery, minimized bezel; all housed in a light (130g) and slim (7.9mm) shape.

The phone is equipped with a 13 megapixel rear camera and also boasts a dual camera function that allows simultaneous use of both front and rear cameras.

“When capturing moments, users can choose from a variety of frame effects, which blend the two pictures naturally and adjust the size of the small picture inside the big one,” the Chief Operating Officer revealed.

He said the phone will break language barriers through its instant translation of both speech and text.

“The Galaxy S4 brings all people closer together by breaking language barriers. It makes international travel; a joy with ‘S Translator’ which provides instant translation, using text or voice translation on applications including email, text message and ChatON.”

“This is also possible for both speech to text and text to speech and ensures that you rely on the correct information whilst abroad.”

The phone also has a ‘Samsung Smart Pause’ a feature that enables the user to control the screen while looking at it.

“It ensures that tasks are effortless with innovative features that detect your face, voice and motions to enable screen control with no need for finger touch activation,” Ngure said.

He said they had wide range of Samsung products at a different price to cater for all their customers while saying they will be proceeding to launch the product in Uganda and Tanzania.

Courtesy Of Capital FM Business News

Aga Khan Opens Health Centre In Arusha

Courtesy Of Capital FM Business News

ARUSHA, Tanzania, May 11 – The Aga Khan University (AKU) has expanded its network even further following the launch of a new health facility in Arusha, Tanzania.

 

The modern health centre located on Seth Benjamin Street, within the central business district, was launched on Friday to offer high quality health care services.

These include physician consultations, a wide range of diagnostic services including a CT scanner, ultra sound, a modern laboratory and pharmacy.

The Centre was established last year in June 2012 as a first step to AKU’s major presence in Arusha.

“This is a much needed service and a bench mark for high quality health care in the region,” Stanslaus Mageso Mulongo, the Regional Commissioner in Arusha said at the launch.

He further noted that AKU is planning to establish a hospital in its principal campus site that will provide quality service for specialised and critical care at internationals standards.

“The hospital will be a welcome facility that will enable the residents of Arusha and beyond access world class care, a much needed service in the region,” he said.

The launch also attended by senior government officials, diplomats, members of the East African secretariat, corporates, donors, prominent citizens and members of staff was presided over by Firoz Rasul, President of AKU.

The Regional Commissioner commended His Highness the Aga Khan, Chancellor of the Aga Khan University for his immense contribution to the development of education, healthcare, culture, infrastructure development, economic growth, and tourism not only in Arusha but in Tanzania, East Africa and beyond.

He applauded the University’s future plans to establish a principle campus in Arusha, boosting the city’s vision of being the regional hub for East Africa. He also noted that the substantial investment by Aga Khan University in Arusha will create new jobs, economic activity and educational opportunities and the Government is open to new investment to help develop the Arusha Region.

Rasul further said that the Arusha campus will be a new community with a vibrant educational center that will nurture the region’s future leadership.

The project will involve the development of academic and research facilities; student residences and amenities; a library; student centre and auditorium; sports facilities; a new hospital, a school as well as housing and amenities for faculty and staff.

The campus will house the Faculty of Arts and Sciences that will offer undergraduate and graduate studies in a merit-based and interdisciplinary educational programme tailored to the opportunities and challenges of contemporary East Africa. Graduate professional schools in Law; Media and Communications; Tourism and Leisure; Management; Government and Public Policy; Architecture & Human Settlement; and Economic Growth and Development will also be established.

Currently the Aga Khan University is working with the Regional and District Commissioners on a Regional Plan to improve the infrastructure of the Arusha Region, including roads, water management, community facilities, and public amenities. AKU is also cooperating with Nelson Mandela African Institute of Science and Technology to develop the Arusha region as a higher education hub for East Africa.

Emphasising on AKU’s long term commitment in the region, Rasul said that the University plans to invest over USD 1 billion towards establishing its campuses throughout the region adding more than 10,000 new jobs to the current 2000 already working for the Aga Khan University in East Africa.

Centum

Quick Facts About Centum

Centum is a leading East African investment company that is listed on the Nairobi Securities Exchange and cross-listed on the Uganda Securities Exchange.

Centum is an investment channel providing investors with access to a portfolio of inaccessible, quality, diversified investments.

Centum's key objective is to consistently generate a return on capital that is above market returns through investments in Private Equity, Quoted Private Equity and Real Estate & Infrastructure

Visionis to be Africa's foremost investment channel.

Mission to create real, tangible wealth by providing the channel through which investors access and build extraordinary enterprises in Africa.

Centum's Business: Centum maintain's focus through three distinct business lines namely; Private Equity, Quoted Private Equity and Real Estate & Infrastructure.

Centum's Values

·         We promise to deliver

·         We have unity of purpose

·         We are partners

·         We invest responsibly

 

Centum's strategic objectives are

• To upscale assets under management.
• To achieve return on shareholder funds that is consistently above market returns.
• To maintain total operating costs below 2.5% of assets under management.
• To diversify assets under management by geography.
• To develop Centum’s brand equity and reputation with key stakeholders.

Contact Information

Centum Investment Co. Ltd
P.O. Box 10518 00100
Nairobi, Kenya
Telephone: +254 20 2286000
Fax: -254 20 2286120

China Congratulates Uhuru Kenyatta For Winning Kenyan 2013 Elections

China on Monday offered Uhuru Kenyatta, Kenya’s new leader who has been indicted on charges of crimes against humanity, its congratulations after he was elected president.

“China congratulates Mr Kenyatta on being elected president of Kenya,” foreign ministry spokeswoman Hua Chunying told reporters. “We also congratulate Kenya on holding the election peacefully and successfully.”

Kenyatta is the first person facing trial at the International Criminal Court to have won a presidential election.

He has been charged over widespread violence that followed the last polls in 2007, but scraped to a first round win over his main rival, Prime Minister Raila Odinga, who said he would challenge the results in court.

Kenya does not have the major reserves of natural resources that often attract Chinese interest in Africa, but Hua said: “We would like to strengthen cooperation with the new government of Kenya and bring bilateral friendly relations to a higher level.”

“China attaches great importance to its relations with Kenya and regards Kenya as an important cooperation partner in Africa,” she added at a regular briefing.

Business Interest - The Kenyan Counties That Brokered Political Wins for Top Contestants.

It’s almost a done business and most Kenyans have moved on with their lives which is quite commendable. With that said, one cannot help but wonder which counties made or broke the two horses Raila and Uhuru in one of the heated presidential race to ever happen in Kenya.

Raila and the president Elect Uhuru Kenyatta, will forever be greatful for his strongholds which were led by Nairobi county,a  victory shared by both. Raila did remarkably well in the Coast region but surprisingly enough none of the counties made it to the top list of his strongholds due to low
number of voters registered.

Some of the counties that were not backing Uhuru’s bid were, Homabay, Siaya, Vihiga, Kisumu, Busia among others. Raila may have lost a breath or two when the results of Nyandarua, Kirinyaga, Mandera, Nyeri, Tharaka Nithi, Muranga, Bomet among other counties were announced.

 

Uhuru Kenyatta strongholds were
1.    Kiambu- 705,185,
2.    Nairobi-659,490,
3.    Nakuru-494,239,
4.    Murang’a-406,334 ,
5.    Meru-384,290,
6.    Nyeri-318,880,
7.    Kericho- 238,556,
8.    Nyandarua- 232,808,
9.    Kirinyaga-231,868,
10.    Uasin Gichu-211,438.

Raila's Strongholds Counties
1.     Nairobi- 691,156,
2.    Kisumu-337,232,
3.    Machakos-319,594,
4.    Homabay-303,447,
5.    Kakamega-303,120
6.    Siaya-284, 031
7.    Kisii-236,831,
8.    Makueni-228,843,
9.    Migori-225,645,
10.    Kitui-219,588.

The CORD  presidential candidate already has a petition case in court challenging the presidential results. We are yet to see the outcome of the case as the country seems to have moved on as if nothing is happening. In case of a re-run , Uhuru’s team will have to convince Raila’s strong hold to back them up while Raila will have to do the same in Uhuru’s stronghold which are mainly in Cental and Riftvalley.
 

K24 Television Relaunches With 'State of the Art' Anchors and Reporters

After poaching the bid named in the media fraternity, K24 is all systems go in readiness for a re-launch tonight. In a move to re-brand itself, K24 has done no Justice to Citizen TV and other media houses and it has hunted the big names across the media departments from newsroom to production, and sales and marketing.
It is alleged that the highest paid anchor, Tom Mboya is earning Sh1 Million. Some of the top poached journalists in management level were not only given hefty pay checks, but also bought new car by the Uhuru Kenyatta Owned Station.
Some of the big names expected to be unveiled today on K24 and they are;
1.    Frankline Wambugu

2.    Tony Timase

3.    Nyatichi Nyasani

4.    Belinda Obura

5.    Ann Ngugi

6.    Chris Thairu

7.    Jimmi Gathu

8.    Tom Mboya

9.    TerryAnne Chebet

10.    Dancan Khaemba

11.    Job Mwaura

12.    Yassin Juma

13.    Purity Mwambia

14.    Isabella Kituri
15.  Anders Hiyatchi
16.  Yussuf Ibrahim
17   Franklin Macharia
18. David Wanjie

Kenya's Self Made Billionaires - How They Did It

They are not millionaires but some of Kenya’s self made billionaires who are doing it big in the country. Let’s take a look of how they managed to be mega-super rich.
1. Nelson Muguku - Muguku Poultry Farm
He started with two hens which would later help him join this list. How did he do it? With only two hens, a cock and with Sh2,000 in his pocket, he began his long journey to join the billionaire’s league. In 1965, Muguku bought a 22-acre farm, Star Ltd for Sh100,000 from a white veterinary doctor, and started a hatchery with a 9,000-egg incubator. He later renamed the farm Muguku Poultry Farm.He at one time supplied eggs to Sir Malcolm MacDonald, the last governor and Kenya’s first Prime Minister Mzee Jomo Kenyatta at State House. He died at the age of 78 as the largest individual shareholder of Equity Bank.

2. Tabitha Karanja - Keroche Industry Limited.
She is the first female brewer in Kenya and her success story has not been a smooth sailing. According to Tabitha, the journey has been rough and turbulent since 1997 when she ventured into the wine industry. For over 12 years, Tabitha fought a lone battle with giant multinationals in the fortified wines industry. Tabitha says she almost gave up along the journey as some people embarked on a smear campaign to bring down her emerging empire. But instead of bringing her down, this motivated her and even made her strong and ready to venture into any business.

3. Titus Muya - Family Bank of Kenya Ltd
He always harboured the idea of starting something big. He says the ministry of finance could not offer him a license since he didn’t have the capital nor the experience in banking. Despite many pitfalls, he found his breakthrough. With only Sh2000 he applied for a Sh500,000 loan with a company known as Thabiti Finance (now defunct). It got approved quickly and started business. “I had a partner but I drove the business.” Titus said. 

4. Terry Mungai - Ashleys Beauty Saloon
From a successful banker to a cosmetologist Terry Mungai is the director of Ashleys Hair and Beauty Academy who also holds the license for the Miss World Franchise-Kenya.
Terry says she is attached to Ashleys because it her brainchild which helped her land on her foot in 1994. However, life is not a bed of roses – I face challenges just like any other women who juggle between family and work.
5. Kimani Rugendo - Kevian Kenya
For many years, Kimani Rugendo was associated with Nairobi politics more than business. After trying unsuccessfully to win a parliamentary seat, Mr Rugendo opted to focus on his family business as its managing director. Kevian first product was drinking water until it Kimani decided to venture into the juice business. Kevian has since transformed itself into a whole fruit juice company with two plants, one on Ngong Road and the other in Thika, established in 2005. It also launched two strong juice brands — Pick ‘N’ Peel and Afia.
6.The Suraya’s. Suraya Properties
Suraya Property Group Ltd is a real estate company incorporated in 2006 by Mr. Pete and Sue Muraya. Both husband and wife started the company which maybe just years old but they are already working on seven sites simultaneously. They both conceived the idea to become among the leading property development company in Eastern Africa by creating lifestyles that change the way people live, work and play through innovative, eco-friendly housing while establishing wealth.
7. Mary Mwangi. Double M Buses.
She is the founder and proprietor of public transport vehicles dubbed Double M buses. She resigned from an accounts clerical job with the National Hospital Insurance Fund {NHIF} to engage in a business under the tight control of men. Now running a company with a fleet of 105 buses, Ms Mwangi has primed her sights on greater heights as consensus builds that only reforms will save the sector from sinking further into the abyss of disaster. Currently, Double M, as Ms Mwangi’s firm is popularly known comprises hundreds of 24 and 42-seater buses. She has on her books 250 employees of which 25 are women.

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